Phoenix Suns owner Robert Sarver made an £18 million (27.6 million USD) bid to buy a controlling stake of the Rangers Football Club, according to the BBC.
The Rangers Football Club resides in Glasgow, Scotland and plays in the Scottish Championship, the second tier of the Scottish Professional Football League.
Sarver made the offer to Rangers International Football Club chairman David Somers after Christmas, the BBC reported.
Because two other parties have already purchased shares of the club, the BBC believes Sarver’s chances of successfully purchasing a controlling stake are low at this stage.
Wanting to buy 100 percent of the club, Sarver will need to adjust his plans after new investors, along with supporters of the club, own around 50 percent of the shares.
According to the BBC, 75 percent of shareholders must approve new shares being issued to a non-shareholder like Sarver.
Sarver plans to work with fan groups and other business men in an effort to purchase the Rangers.